Vanguard Group Snaps Up 1.14 Crore Units of Nexus Select Trust for Rs 158 Crore
Nexus Select Trust, India's first retail REIT, sees major stake sale as Vanguard Group buys in
Vanguard GroupNexus Select TrustReitReal Estate Investment TrustRetail PropertiesBlackstone GroupIcici Prudential Mutual FundHdfc Mutual FundWells FargoMorgan StanleyCarmignacReal Estate NewsAug 14, 2024
According to bulk deal data available on the National Stock Exchange (NSE), Vanguard Group purchased 1,14,50,476 units at an average price of Rs 138.42 apiece, taking the transaction value to Rs 158.49 crore.
Meanwhile, Morgan Stanley Asia Singapore sold its stake in the company, disposing of 78.41 lakh units of REIT firm at an average price of Rs 138.33 per piece, taking the deal value to Rs 108.47 crore. Details of other sellers of the REIT firm's units could not be ascertained.
Additionally, Morgan Stanley Asia Singapore also purchased 3,003 units of Nexus Select Trust. Nexus Select Trust units rose 1.16 per cent to close at Rs 138.01 a unit on the NSE.
Last week, global investment firm Blackstone sold 31.55 crore units in its REIT firm Nexus Select Trust for around Rs 4,354.90 crore as part of a strategy to monetise its real estate portfolio.
Domestic mutual funds, including ICICI Prudential Mutual Fund (MF), and HDFC MF picked up units of Nexus Select Trust. Among foreign companies, US-based financial services company Wells Fargo and Morgan Stanley acquired stakes in the company, while French asset management firm Carmignac also bought units of the REIT firm.
Nexus Select Trust's portfolio comprises 17 shopping malls with a gross leasable area of 9.9 million square feet spread across 14 cities, two complementary hotel assets (354 keys) and three office assets with a gross leasable area of 1.3 million square feet.
Information Nexus Select Trust is a real estate investment trust (REIT) that focuses on retail properties in India. The company's portfolio includes shopping malls, hotels, and office spaces across the country.
Vanguard Group is a US-based investment management firm that offers a range of financial products and services to investors worldwide. The company is known for its low-cost index funds and ETFs.
Blackstone Group is a global investment firm that manages a range of alternative asset classes, including real estate, private equity, and hedge funds.
ICICI Prudential Mutual Fund is a leading asset management company in India that offers a range of mutual fund schemes to investors.
HDFC Mutual Fund is another prominent asset management company in India that provides a range of mutual fund schemes to investors.
Wells Fargo is a US-based financial services company that offers a range of banking and investment products to individuals and institutions.
Morgan Stanley is a US-based investment bank and financial services company that offers a range of products and services to individuals and institutions.
Carmignac is a French asset management firm that offers a range of investment products to individuals and institutions.
Frequently Asked Questions
What is Nexus Select Trust?
Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties.
Who bought stake in Nexus Select Trust?
Vanguard Group bought over 1.14 crore units in Nexus Select Trust for Rs 158 crore.
Who sold stake in Nexus Select Trust?
Morgan Stanley Asia Singapore sold its stake in Nexus Select Trust, disposing of 78.41 lakh units.
What is the portfolio of Nexus Select Trust?
Nexus Select Trust's portfolio comprises 17 shopping malls, two complementary hotel assets, and three office assets.
Who are the other investors in Nexus Select Trust?
Domestic mutual funds, including ICICI Prudential Mutual Fund and HDFC MF, and foreign companies like Wells Fargo and Morgan Stanley have invested in Nexus Select Trust.
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